Plastic recycling has become a significant part of recycling but it is a cumbersome declaration of plastic recycling as a success story especially from environmental perspective. Owing to the fact that less than 10% of plastic generation from the U.S. is recycled, as well the vigorously growing global challenge of ocean plastic and the long suffering environmental concerns of plastic shopping bags. Polyethylene Terephthalate holds an impressive share in the recycled plastic market by resin type and is anticipated to grow at an effective rate over the forecast period. This particular segment should grasp 180 BPS from 2019-2025, making it an immensely attractive opportunity in the market.
The latest trend grasping momentum in the recycled plastic market size is the increasing usage of recycle plastic in end-use industries. The concerns regarding contamination of plastic waste and disposal are driving the consumption of recycled plastics by various end-use industries. However, the recycling of plastic is at a crucial stage in emerging economies where the majority of the plastic scrap is sent to other developing nations. PVC bottles in particular contain high doses of chlorine and other contaminates that act as an obstacle to recycling of these products.
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Recycled Plastic Market: Key Players
Avangard Innotive, Carbon ITE Industries, UltrePET, Custom Polymers B. Schoenberg and more others.
Key companies are contributing a major role in boosting the needful usage of recycled plastic bottles in lieu of virgin plastic bottles. Small size organizations have also been inspired by this and a few have committed to use 100% recycled plastic bottles by 2020. Nevertheless, this could be one of a major driving factor the market.
The global recycled plastic market is segmented into several classifications including end-user application, and geographic regions. Based on the end-user application the market is categorized by non-food contact packaging, food contact packaging, construction, and automotive. Whereas, geographically the market is widely range to America, APAC, and EMEA. The recycling rate for plastic bottles in the U.S. is near about 30 %. Whereas in the United Kingdom, it’s close to 20 to 45%.
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Geographically, dominating regions are Asia Pacific, Europe, North America, Latin America, and Middle East and Africa. China is anticipated to contribute nearly 50% of the global market alone at the end of 2025. Asia Pacific in importing recycled plastic scrap, with India also accounting for a notable share in the regional market. North America has initiated to manufacture PET bottles from recycled plastic and these bottles are 100% recycled plastic with the organization aiming to raise the recycle rate of plastic bottles to 60% by end of 2018. The process reduces the consumption of natural gas and is an environmentally-friendly and renewable for harvesting energy.
Some Key Highlight Points from TOC:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Global Recycled Plastic Market Overview, By Company Type
Chapter 5. Global Recycled Plastic Market Overview, By Designation
Chapter 6. Global Recycled Plastic Market Overview, By Region
Chapter 7. Company Profiles
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